Ropes & Gray advised Ovid Therapeutics in a collaboration with Graviton Bioscience Corporation under which Ovid obtained exclusive rights to develop ROCK2 inhibitors, including GV101, for a range of rare neurological diseases outside of China, Hong Kong, Macau and Taiwan. The transaction was announced on May 1.
Under the terms of the agreement, Graviton will lead development through the end of Phase 2, and Ovid will be responsible for all development and commercialization activities thereafter. Ovid will make a $10 million equity investment in Graviton and will be responsible for all development and commercialization costs. Graviton will be eligible for royalties in the mid- to high-teens.
The Ropes & Gray team was led by life sciences partner Abigail Gregor, life sciences associates Ana Gomez-Palazzo and Raj Banerjee, and included venture capital & emerging companies partner Brad Flint and life sciences associate Ian Nilsen.
